Shell has sharp profit fall in q3

Shell reported, on Thursday (29), a net profit of US$ 489 million in the three months to September 30. In the same period in 2019, the company's profit was $5.88 billion, which shows that lower prices in the P&G sector, falling demand for refined products, and reduced refinery margins, continued to impact the company.

The oil company also reported an adjusted profit of $955 million. In this respect, the company exceeded the market consensus that estimated a result of US$ 146 million, based on the forecasts of 26 analysts. 

In addition, it also said it is raising its dividend by 4% to $0.1665, and said that reducing its debt to $65 billion will allocate about 20% to 30% of its operating cash flow to shareholders. Shell's debt was $73.5 billion at the end of the third quarter.

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